PBOC Sets USD/CNY Fix at 6.8198, Weaker vs. Previous 6.8157
The People’s Bank of China set the USD/CNY central parity rate at 6.8198 on Monday, weaker than Friday's fix of 6.8157.
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The People's Bank of China (PBOC) set the USD/CNY reference rate at 6.8198 for Monday's trading session, compared to the previous fix of 6.8157 on Friday. The slight weakening of the yuan reference comes amid ongoing global currency market fluctuations.
The daily central parity rate serves as a guideline for the onshore yuan trading band, which can move up to 2% in either direction from the fix. Market participants watch these fixes closely for signals on China's currency policy direction.
Source: FXStreet Forex News